The leading currency recently traded around $84,000, rising back above the prices below $77,000 seen late last week that were in the neighborhood of their pre-election levels
Bitcoin prices pared a bit of their gains on Tuesday, as crypto trading volume dropped and investors' risk appetite was pressured by trade-related uncertainty. This countered some of the enthusiasm over the crypto industry's prospects after President Donald Trump's reelection.
“It's unfortunate to see Trump's on-and-off again tariffs have driven bear market concern, recession fear, and pullback of retail trading,” Oppenheimer analysts said in a note. A silver lining, they said, is that the resulting pullbacks in Bitcoin and stocks like Coinbase Global (COIN) have been less severe than those seen during another big move lower in 2022. That year, Bitcoin finished at less than $20,000.
“It demonstrates that this asset class has matured and become more resilient,” according to the analysts.
Several crypto-linked stocks were trading lower on Tuesday. Crypto exchange Coinbase was recently down about 3%, while Bitcoin miner Mara Holdings (MARA) was itself off by about 2%. (Read Investopedia's live coverage of today's markets here.)output: Bitcoin pared a bit of its gains on Tuesday, as crypto trading volume dropped and investors' risk appetite was pressured by trade-related uncertainty that countered enthusiasm about the crypto industry's prospects after President Donald Trump's reelection.
The leading cryptocurrency recently traded around $84,000. This was down slightly from the levels seen earlier in the day and below the prices below $77,000 seen late last week, which were in the neighborhood of their pre-election levels.
That recovery has come as crypto trading volume has fallen, Oppenheimer analysts wrote, in a note published Tuesday. They added that investors' risk appetite has been pressured by trade-related uncertainty that has countered enthusiasm about the crypto industry's prospects after Trump's reelection.
“It's unfortunate to see Trump's on-and-off again tariffs have driven bear market concern, recession fear, and pullback of retail trading.” A silver lining, they argued, is that the resulting pullbacks in Bitcoin and stocks like Coinbase Global (COIN) have been less severe than those seen during another big move lower in 2022—a year that Bitcoin finished at under $20,000.
“It demonstrates that this asset class has matured and become more resilient,” according to the analysts.
Several crypto-linked stocks were trading lower today. Crypto exchange Coinbase was recently down close to 3%. Mara Holdings (MARA), a Bitcoin miner, was itself off about 2%. (Read Investopedia’s live coverage of today’s markets here.)
